1354 Carroll St Great Property in Pigtown!

By Team
In Uncategorized

Hi there!

Following theme, we’ve got another great opportunity in Pigtown. Cheaper price point at the same rental rate makes this one an even sweeter deal as well. Like I said last week, ask a local and they will tell you how the Mayor has picked them as the sweetheart neighborhood for major city investment. Close proximity to downtown, the inner harbor, the Orioles & Ravens stadiums … great highway access, parks and a Charter School in your back yard are just a few reasons why this area will see plenty of appreciation in the coming years. Our sales price for this home is $116,000 and we’ve left equity on the table for an easy refinance as well. As always the budget is included in the sales price to bring it back to new again.

Looking forward to answering your questions!
–Cris
919-675-CRIS

1354 Carroll St, Baltimore, MD

1354 Carroll St, Baltimore, MD 21230
3br/1.5ba
Cap Rate: 10.64% + 30k equity
Income Analysis
Listing Price: $115,000
Total monthly projected rental income: $1600/mo
Estimate Annual Taxes: $1,948
Estimated Annual Insurance: $840
Estimated Annual Maintenance Costs: $1,600
** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.
Annual Property Management: $1,920
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $19,200
Annual Cumulative Hard Costs: $6,308
Adjusted Gross Annual Income: $12,892
5 Year Return: $64,460
10 Year Return: $128,920

Property and Area Photos

More About Pigtown Community

Pigtown ZIP codes: 21230

Pigtown’s biggest draws are its diversity (social, economical, and racial) and location. The neighborhood is gaining in value but is very affordable, attracting students, retirees, and singles, and young couples and parents. Those who call Pigtown home love its proximity to downtown, I-95, Federal Hill, the MARC train, and the stadiums. With a very involved community, Pigtown is growing rapidly and welcoming more and more new residents, businesses, and organizations. The Pigtown Historic District comprises some 36 city blocks lying in Southwest Baltimore, south and east of the Baltimore & Ohio Railroad yards. Developing initially as a community for railroad workers in the 1840’s, along Columbia Avenue (now Washington Boulevard), Ramsay, McHenry and Poppleton Streets, the area grew rapidly to the south during the industrial expansion of the 1850’s and 1860’s. Small two-story houses were built for workingmen on the narrow streets running south of Washington Boulevard with three-story gable-roofed houses and then early Italianate house lining Washington Boulevard and Scott Street to serve as housing for shopkeepers and upper-level managers. Development of the Pigtown is intimately linked with hallmark events of the Industrial Revolution in Baltimore, particularly the growth and development of the B&O Railroad, the nation’s first. In the 1980s, in an effort to reinvigorate Pigtown, the neighborhood name was officially changed to Washington Village. The true name of the neighborhood is still under debate. With the rise in property values and the influx of newcomers to city life in the late 1990s through today, Pigtown’s population and quality of life has consistently risen. In the early 2000s, Pigtown was designated an Empowerment Zone, bringing new businesses and homeowners. This effort has continued with its designation as a Main Streets Community, which promotes Pigtown’s eclectic business corridor. Recently, Baltimore’s west side has been targeted by the mayor’s office as an are of focus for major developments and investment, which will no doubt continue to grow Pigtown in value and quality of life. Today, Pigtown is a community of renters, homeowners, and businesses. Residents are socially, racially, and economically varied, making Pigtown one of the most diverse neighborhoods in Baltimore city. Pigtowners are very proactive in their neighborhood organizations, contributing to the continuing growth, quality of life, and improvement of Pigtown. Pigtown’s energetic community, diversity, value, growth, and GREAT location continues to attract new residents, businesses, and development. Big things are happening in Pigtown!

What’s a Pre-hab?

Pre-hab means we have not started work on the property yet. However the prices you see are our “turn-key price” that includes full rehab (granite counters, stainless appliances, hardwood floors) and we turn these around in 45 – 60 days. We also guarantee tenant placement within 30 days of completion or we cover the 1st month’s rent, should you utilize our Tenant Placement and Property Management services.

If you have your own pre-hab you’d like a construction quote on, we’d be glad to provide that for you as well.

What’s a Cap Rate?

The net income an asset produces in a given year divided by its purchase price. The capitalization rate is used to help determine the rate of return, or how fast an asset pays for itself and begins to make a profit. For example, if an asset cost $1,000,000 and it produces $100,000 in a given year, the capitalization rate is 10% and it will take 10 years to pay for the asset with the money it produces. However, it is important to note that the capitalization rate may change from year to year. For example, the same asset could produce $100,000 in year one but $250,000 in year two. It is informally known as the cap rate.

CELEBRATION INVESTMENT GROUP

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1354 Carroll St Great Property in Pigtown!

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